Halliburton Company (HAL) Price Target Increased to $54.00 by Analysts at Citigroup Inc.
Halliburton Company (NYSE:HAL) had its target price hoisted by equities researchers at Citigroup Inc. from $52.00 to $54.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the oilfield services company’s stock. Citigroup Inc.’s target price indicates a potential upside of 19.52% from the company’s previous close.
HAL has been the topic of a number of other reports. ValuEngine cut Halliburton from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. HSBC Holdings plc reiterated a “buy” rating and set a $62.00 target price (down from $65.00) on shares of Halliburton in a research note on Thursday, June 22nd. Barclays PLC reiterated an “overweight” rating on shares of Halliburton in a research note on Monday, June 26th. Guggenheim cut Halliburton from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 27th. Finally, J P Morgan Chase & Co lowered their target price on Halliburton from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $58.13.
Halliburton (NYSE HAL) traded up 0.122% during mid-day trading on Thursday, reaching $45.235. 3,149,222 shares of the company’s stock traded hands. The company has a 50 day moving average price of $41.57 and a 200-day moving average price of $44.32. Halliburton has a 12 month low of $38.18 and a 12 month high of $58.78. The stock’s market cap is $39.43 billion.
Halliburton (NYSE:HAL) last issued its quarterly earnings data on Monday, July 24th. The oilfield services company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.05. The business had revenue of $4.96 billion for the quarter, compared to analysts’ expectations of $4.86 billion. Halliburton had a positive return on equity of 2.97% and a negative net margin of 0.86%. The business’s revenue was up 29.3% on a year-over-year basis. During the same period last year, the business earned ($0.14) EPS. On average, analysts anticipate that Halliburton will post $1.12 EPS for the current year.
In other news, EVP Lawrence J. Pope sold 43,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $39.66, for a total value of $1,705,380.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.46% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Osborn Williams & Donohoe LLC purchased a new stake in shares of Halliburton during the third quarter valued at $212,000. Neville Rodie & Shaw Inc. purchased a new stake in shares of Halliburton during the third quarter valued at $202,000. Park National Corp OH boosted its position in shares of Halliburton by 2.9% during the third quarter. Park National Corp OH now owns 109,975 shares of the oilfield services company’s stock valued at $5,062,000 after buying an additional 3,077 shares during the last quarter. Cacti Asset Management LLC boosted its position in shares of Halliburton by 13.7% during the third quarter. Cacti Asset Management LLC now owns 804,430 shares of the oilfield services company’s stock valued at $36,666,000 after buying an additional 96,814 shares during the last quarter. Finally, Sentry Investment Management LLC boosted its position in shares of Halliburton by 102.3% during the second quarter. Sentry Investment Management LLC now owns 69,683 shares of the oilfield services company’s stock valued at $2,976,000 after buying an additional 35,245 shares during the last quarter. 79.51% of the stock is currently owned by institutional investors.
Halliburton Company Profile
Halliburton Company provides services and products to the upstream oil and natural gas industry throughout the lifecycle of the reservoir, from locating hydrocarbons and managing geological data, to drilling and formation evaluation, well construction and completion, and optimizing production throughout the life of the field.
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